Economic Resilience Amidst Russian Aggression: Eastern Finland’s Path towards Sustainable Growth

The EU’s assistance is crucial for Eastern Finland

Finland’s public finances are under strain due to the Russian war of aggression, which has hit Eastern Finland particularly hard. The complete closure of the Russian border has had a devastating impact on the region’s economy, highlighting the urgent need for a realistic approach to economic development in Eastern Finland.

The Finnish Confederation of Business and Industry (EK) has proposed a list of recommendations to revive the economy and vitality of Eastern Finland. Harry Broman, Chairman of EC, emphasizes the importance of taking a serious and collaborative approach to address the challenges facing the region.

One recommendation is to designate Eastern Finland as a special economic zone, which would focus on accelerating business activities and creating a healthy, growing economy that contributes to national GDP. This would require cooperation between public authorities and private sectors, with investments in infrastructure such as air connections and broadband programs playing a key role.

Broman also highlights the need for support for companies experiencing growth, skills shortages, and changes in ownership. The EU’s solidarity is called upon to help support Russia’s neighboring countries, which are facing significant challenges due to the crisis.

Despite the strong determination and optimism of Eastern Finland’s companies, it is important to take a realistic approach given the difficult financial situation faced by both public and private sectors in Finland. Collaboration between these sectors is crucial in driving growth and sustainability in Eastern Finland towards long-term success.

Leave a Reply